Potential buyers show interest as media giant evaluates strategic options
Warner Bros. Discovery, the media conglomerate behind HBO, CNN, and Warner Bros. Studios, has announced that it is exploring a potential sale, signaling another major shake-up in the global media landscape.
In a statement, the company said it had begun “a review of strategic alternatives to maximize shareholder value,” a phrase typically used to indicate a potential sale or breakup. It added that it had received unsolicited interest from multiple parties, including offers for the entire company as well as individual divisions such as Warner Bros. Studios.
Following the announcement, shares of Warner Bros. Discovery rose more than 10 percent, CNBC reported.
The review comes as the $45-billion-plus company faces rising streaming competition and declining cable television revenue. Warner Bros. Discovery carries a significant debt burden, a legacy of past mergers and restructuring, even as it continues to produce major franchises like Harry Potter and DC Comics’ Superman and Batman.
The conglomerate operates a diverse portfolio spanning cable networks, film production, news, sports rights, and streaming services. While exploring potential buyers, the company confirmed it would continue pursuing its previously announced plan to separate traditional cable networks from streaming and studio operations.
A sale would mark the latest chapter in the ongoing evolution of one of Hollywood’s most storied media houses. Formerly known as Time Warner, the company has been central to several landmark deals, including its merger with AT&T in 2016 and its subsequent spinoff and 2022 combination with Discovery.
In recent months, Paramount Global reportedly explored a bid for Warner Bros. Discovery, though talks have cooled. Comcast, parent of NBCUniversal, is also expected to evaluate the company’s assets, according to industry sources.
The move comes amid a wave of deal-making in the media sector as traditional entertainment companies adapt to a streaming-driven market. Earlier this year, Skydance acquired Paramount, while Comcast announced plans to spin off several cable networks, including CNBC and MSNBC, into a separate entity called Versant.
